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to keep an eye on apple shares today. it dropped below $400 yesterday or the first time in 16 months. the decline came after a chip suppliers forecast led them to start worrying about weakening demand for the iphone and ipad. joining us is gene munster. gene, by the way, also covers google and google will be reporting after the bell tonight. gene, why don't we start with apple. this has been an incredible run up and then an incredible drop. below $400. is this somewhere you saw the stock going? >> no way. this is -- we thought there was a floor at 450, so this is a lot lower than we thought it was going to go. >> and at this point, now that it has reached 400 at least in the intra day trade, does that worry you that there is still more room to decline or do you think at this point it's stabilized? >> we think there's an opportunity here. the street numbers still need to get reset. we're 10% below the street for the june quarter. i think once these estimates get reset, that's the point where investors are going to start to get interesting. the southside still hasn't taken those nebs d
of profit right now. i'll give your mobile update. apple fell below $400 a share yesterday. it was as high as 705 in the last year. they have lost more than 200 billion in market capitalization in just a little stretch. the key is people think that the bloom is off the rose and demand is not so great for this product anymore. >> brian shactman, thank you for everything today. stengel is st. we'll show you "time" magazine's list coming up next on "morning joe." [ male announcer ] at his current pace, bob will retire when he's 153, which would be fine if bob were a vampire. but he's not. ♪ he's an architect with two kids and a mortgage. luckily, he found someone who gave him a fresh perspective on his portfolio. and with some planning and effort, hopefully bob can retire at a more appropriate age. it's not rocket science. it's just common sense. from td ameritrade. [ jen garner ] what skincare brand is so effective... so trusted... so clinically proven dermatologists recommend it twice as much as any other brand? neutrogena®. recommended by dermatologists 2 times more than any other brand
Search Results 0 to 1 of about 2